Solana [SOL] lately confronted backlash from the crypto neighborhood due to the outages within the second half of 2021 and first half of 2022. These mishaps raised a number of questions from the Web3 neighborhood associated to the reliability of the blockchain.
Nonetheless, in a current report revealed by Solana, a couple of factors had been talked about that prompt that the blockchain’s reliability was unhurt. As an example, community uptime stands as an essential issue to grasp a blockchain’s reliability, and SOL’s uptime was over 99% persistently. Moreover, the blockchain even touched the 100% mark in July 2022, which was commendable.
2022 wanting good
The report additionally talked about a number of upcoming tasks and plans for Solana that appeared fairly promising for the community. Solana revealed that there are plans to make QUIC the default transaction ingest and forwarding protocol on Mainnet-beta beginning with the 1.13.4 validator shopper launch. Moreover, this launch was at the moment stay on most validators and RPC nodes in Mainnet-beta.
Apparently, in line with the report, Solana’s testnet, on 22 September, exceeded its earlier report for transaction throughput by surpassing 24,000 transactions per second.
All these developments had been mirrored on SOL’s chart because it grew to become one of many high gainers within the Solana ecosystem during the last seven days.
Prime Gainers in @Solana Ecosystem Final 7D 🚀🚀$SAMO @samoyedcoin $SUSHI @sushiswap $SOL @solana $SCNSOL @SoceanFinance $GMT @stepnofficial $MEDIA @Media_FDN $SRM @projectserum $AUDIO @AudiusProject
$C98 @coin98_wallet $ATLAS @staratlas #Solana $SOL pic.twitter.com/q2COiViHoi— Solana Each day (@solana_daily) October 31, 2022
In accordance with CoinMarketCap, at press time, SOL was buying and selling at $32.66 with a market capitalization of greater than $11.7 billion. Buyers may need even higher days forward because the market indicators had been in favor of a continued worth surge within the coming days.
Cheering on the bulls…
SOL’s day by day chart painted a bullish image for the token because it revealed the potential for a continued uptrend within the coming days. The Exponential Shifting Common (EMA) Ribbon displayed that the bulls would possibly quickly go away the bears behind. The chart additionally revealed that SOL bulls could acquire a bonus out there because the 20-day EMA was quick approaching the 55-day EMA.
The Relative Power Index (RSI) registered a really slight uptick, which was a bullish sign. Moreover, SOL’s Cash Circulation Index (MFI) was additionally resting above the impartial mark. Nonetheless, the Chaikin Cash Circulation (CMF) witnessed a slight downtick. This will likely act as a barrier in SOL’s uptrend.